Editorial Board

Let China Make a Soft Landing

China was right to cut interest rates and isn't manipulating its currency.

Don't sneeze.

Source: ChinaFotoPress via Getty Images

China's second interest-rate cut in three months has raised fears that the government is trying to devalue the yuan to give its exports an unfair boost -- an understandable suspicion, given Beijing's history of manipulating its currency. This time, though, lower interest rates and a moderately weaker yuan make sense not just for China but for the rest of the world as well. 

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